Sharon is a forty percent partner in Green Nursery.She also works full-time as an engineer,earning a gross salary of $100,000,annually.Green Nursery's net income for tax purposes is $210,000.During the year,Green Nursery received $10,000 in non-eligible dividends from a CCPC.The company sold a capital asset and recognized a gain of $16,000.(The dividend income and capital gains income have been included in the net income.)Sharon withdrew $20,000 from the partnership.The ACB of Sharon's partnership interest was $75,000 at the end of the previous year.
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The Answer of Sharon is a forty percent partner in Green Nursery.She also works full-time as an engineer,earning a gross salary of $100,000,annually.Green Nursery's net income for tax purposes is $210,000.During the year,Green Nursery received $10,000 in non-eligible dividends from a CCPC.The company sold a capital asset and recognized a gain of $16,000.(The dividend income and capital gains income have been included in the net income.)Sharon withdrew $20,000 from the partnership.The ACB of Sharon's partnership interest was $75,000 at the end of the previous year.
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Sharon Is a Forty Percent Partner in Green Nursery